Zitat des Tages von Joseph Stiglitz:
The Paris climate agreement may be a harbinger of the spirit and mindset needed to sustain genuine global cooperation.
In debate, one randomly was assigned to one side or the other. This had at least one virtue - it made one see that there was more than one side to these complex issues.
As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability - the difficulty that those who pay for information have in getting returns.
But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs.
When you have a highly divided society, it's hard to come together to make investments in the common good.
Donald Trump's astonishing victory in the U.S. presidential election has made one thing abundantly clear: too many Americans - particularly white male Americans - feel left behind.
The laws of normal economics dictate that lower taxes combined with increased spending will lead to bigger deficits.
Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with every day observation.
I'm enough of a political junkie to know if you have large numbers of people much worse off, you're going to have consequences.
I grew up in a family in which political issues were often discussed, and debated intensely.
Too many countries of the former Soviet bloc remain under the control of authoritarian leaders, including some, like the Russian president, Vladimir Putin, who have learned how to maintain a more convincing facade of elections than their communist predecessors.
Under the rule of law, if the government wants to prevent firms from outsourcing and offshoring, it enacts legislation and adopts regulations to create the appropriate incentives and discourage undesirable behaviour. It does not bully or threaten particular firms or portray traumatised refugees as a security threat.
But while I loved all of these courses, there was an irresistible attraction of economics.
China's government has far more control over the country's economy than our government has over ours, and it is moving from export dependence to a model of growth driven by domestic demand. Any restriction on exports to the U.S. would simply accelerate a process already underway.
There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists.
An economy in which most citizens are doing worse year after year - an economy like America's - is not likely to do well over the long haul.
The financial sector has so distorted salaries that physicists are getting drawn into the financial sector. All that has led to an undersupply of people committed to the public sector.
I think in part the reason is that seeing an economy that is, in many ways, quite different from the one grows up in, helps crystallize issues: in one's own environment, one takes too much for granted, without asking why things are the way they are.
To maximise global social welfare, policymakers should strongly encourage the diffusion of knowledge from developed to developing countries.
International lending banks need to focus on areas where private investment doesn't go, such as infrastructure projects, education and poverty relief.
Economists often like startling theorems, results which seem to run counter to conventional wisdom.
A less healthy America is not going to be as productive.
America under Trump has gone from being a world leader to an object of derision.
America's role in the global economy inevitably was going to diminish; we're smaller relative to - as China, India, other emerging markets grow.
We share a common planet, and the world has learned the hard way that we have to get along and work together. We have learned, too, that cooperation can benefit all.
Trump assumed office promising to 'drain the swamp' in Washington, D.C. Instead, the swamp has grown wider and deeper.
Ensuring preschool education for all and investing more in public schools is essential if the U.S. is to avoid becoming a neo-feudal country where advantages and disadvantages are passed on from one generation to the next.
There's a long list of investments that governments could and should be making. There is strengthening infrastructure, such as transport and communications; there is investment in education; there is investment in families, particularly putting measures in place that free women from having to make the choice between raising a family and work.
What I argued in 'The Great Divide' is that societies can't function without trust, both politically and economically.
In the end, the politics of the euro zone weren't strong enough to create a fully integrated fiscal union with a common banking system, etc.
I, like many members of my generation, was concerned with segregation and the repeated violation of civil rights.
We have a locale-based education system; we have increasing economic segregation. We clearly need a larger federal program to try to help disadvantaged districts.
When markets fail, as they often do, collective action becomes imperative.
Globalization and trade liberalization were supposed to make us all better off through the mechanism of trickle-down economics. What we seemed to be seeing instead was trickle-up economics, accompanied by a destruction of democratic politics, as we moved ever closer to a system of 'one dollar, one vote' as opposed to 'one person, one vote.'
Certainly, the poverty, the discrimination, the episodic unemployment could not but strike an inquiring youngster: why did these exist, and what could we do about them.
Americans like to say we're fighting for democracy, and yet young Americans have come to the view that democracy doesn't deliver.
